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A.O.史密斯（AOS）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
A.O.史密斯的季度营收约是Rocket Lab Corp的5.1倍（$912.5M vs $179.7M）。A.O.史密斯净利率更高（13.7% vs -29.5%，领先43.2%）。Rocket Lab Corp同比增速更快（35.7% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-114.2M）。过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs -3.4%）
A.O.史密斯是美国知名的家用及商用热水器、锅炉生产商，也是北美规模最大的热水器制造销售商，在亚洲市场还供应水处理和净化产品。公司在全球共有27个站点，包括北美5座生产基地，以及位于印度班加罗尔、中国南京、荷兰费尔德霍芬的工厂。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
AOS vs RKLB — 直观对比
营收规模更大
AOS
是对方的5.1倍
$179.7M
营收增速更快
RKLB
高出35.7%
0.0%
净利率更高
AOS
高出43.2%
-29.5%
自由现金流更多
AOS
多$279.7M
$-114.2M
两年增速更快
RKLB
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $179.7M |
| 净利润 | $125.4M | $-52.9M |
| 毛利率 | 38.4% | 38.0% |
| 营业利润率 | 17.9% | -28.4% |
| 净利率 | 13.7% | -29.5% |
| 营收同比 | 0.0% | 35.7% |
| 净利润同比 | 14.3% | -1.1% |
| 每股收益（稀释后） | $0.89 | $-0.09 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AOSRKLB
| Q4 25 | $912.5M | $179.7M | ||
| Q3 25 | $942.5M | $155.1M | ||
| Q2 25 | $1.0B | $144.5M | ||
| Q1 25 | $963.9M | $122.6M | ||
| Q4 24 | $912.4M | $132.4M | ||
| Q3 24 | $902.6M | $104.8M | ||
| Q2 24 | $1.0B | $106.3M | ||
| Q1 24 | $978.8M | $92.8M |
净利润AOSRKLB
| Q4 25 | $125.4M | $-52.9M | ||
| Q3 25 | $132.0M | $-18.3M | ||
| Q2 25 | $152.2M | $-66.4M | ||
| Q1 25 | $136.6M | $-60.6M | ||
| Q4 24 | $109.7M | $-52.3M | ||
| Q3 24 | $120.1M | $-51.9M | ||
| Q2 24 | $156.2M | $-41.6M | ||
| Q1 24 | $147.6M | $-44.3M |
毛利率AOSRKLB
| Q4 25 | 38.4% | 38.0% | ||
| Q3 25 | 38.7% | 37.0% | ||
| Q2 25 | 39.3% | 32.1% | ||
| Q1 25 | 38.9% | 28.8% | ||
| Q4 24 | 37.1% | 27.8% | ||
| Q3 24 | 37.4% | 26.7% | ||
| Q2 24 | 38.7% | 25.6% | ||
| Q1 24 | 39.3% | 26.1% |
营业利润率AOSRKLB
| Q4 25 | 17.9% | -28.4% | ||
| Q3 25 | 18.6% | -38.0% | ||
| Q2 25 | 20.4% | -41.3% | ||
| Q1 25 | 19.1% | -48.3% | ||
| Q4 24 | 10.1% | -38.9% | ||
| Q3 24 | 19.5% | -49.5% | ||
| Q2 24 | 21.9% | -40.7% | ||
| Q1 24 | 22.0% | -46.4% |
净利率AOSRKLB
| Q4 25 | 13.7% | -29.5% | ||
| Q3 25 | 14.0% | -11.8% | ||
| Q2 25 | 15.0% | -46.0% | ||
| Q1 25 | 14.2% | -49.5% | ||
| Q4 24 | 12.0% | -39.5% | ||
| Q3 24 | 13.3% | -49.6% | ||
| Q2 24 | 15.2% | -39.2% | ||
| Q1 24 | 15.1% | -47.7% |
每股收益（稀释后）AOSRKLB
| Q4 25 | $0.89 | $-0.09 | ||
| Q3 25 | $0.94 | $-0.03 | ||
| Q2 25 | $1.07 | $-0.13 | ||
| Q1 25 | $0.95 | $-0.12 | ||
| Q4 24 | $0.75 | $-0.11 | ||
| Q3 24 | $0.82 | $-0.10 | ||
| Q2 24 | $1.06 | $-0.08 | ||
| Q1 24 | $1.00 | $-0.09 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $193.2M | $1.0B |
| 总债务越低越好 | $155.0M | $152.4M |
| 股东权益账面价值 | $1.9B | $1.7B |
| 总资产 | $3.1B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资AOSRKLB
| Q4 25 | $193.2M | $1.0B | ||
| Q3 25 | $172.8M | $976.7M | ||
| Q2 25 | $177.9M | $688.1M | ||
| Q1 25 | $200.2M | $428.4M | ||
| Q4 24 | $276.1M | $419.0M | ||
| Q3 24 | $255.6M | $442.4M | ||
| Q2 24 | $233.3M | $496.8M | ||
| Q1 24 | $303.1M | $492.5M |
总债务AOSRKLB
| Q4 25 | $155.0M | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | $193.2M | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益AOSRKLB
| Q4 25 | $1.9B | $1.7B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.8B | $688.5M | ||
| Q1 25 | $1.9B | $431.3M | ||
| Q4 24 | $1.9B | $382.5M | ||
| Q3 24 | $1.9B | $419.8M | ||
| Q2 24 | $1.9B | $455.2M | ||
| Q1 24 | $1.9B | $478.9M |
总资产AOSRKLB
| Q4 25 | $3.1B | $2.3B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.2B | $1.6B | ||
| Q1 25 | $3.3B | $1.3B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.2B | $1.2B | ||
| Q2 24 | $3.2B | $1.2B | ||
| Q1 24 | $3.2B | $1.2B |
负债/权益比AOSRKLB
| Q4 25 | 0.08× | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | 0.10× | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $183.1M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-114.2M |
| 自由现金流率自由现金流/营收 | 18.1% | -63.6% |
| 资本支出强度资本支出/营收 | 1.9% | 27.6% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $546.0M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流AOSRKLB
| Q4 25 | $183.1M | $-64.5M | ||
| Q3 25 | $255.4M | $-23.5M | ||
| Q2 25 | $139.6M | $-23.2M | ||
| Q1 25 | $38.7M | $-54.2M | ||
| Q4 24 | $221.9M | $-2.4M | ||
| Q3 24 | $195.9M | $-30.9M | ||
| Q2 24 | $57.4M | $-13.0M | ||
| Q1 24 | $106.6M | $-2.6M |
自由现金流AOSRKLB
| Q4 25 | $165.5M | $-114.2M | ||
| Q3 25 | $240.6M | $-69.4M | ||
| Q2 25 | $122.5M | $-55.3M | ||
| Q1 25 | $17.4M | $-82.9M | ||
| Q4 24 | $191.3M | $-23.9M | ||
| Q3 24 | $163.4M | $-41.9M | ||
| Q2 24 | $34.5M | $-28.3M | ||
| Q1 24 | $84.6M | $-21.8M |
自由现金流率AOSRKLB
| Q4 25 | 18.1% | -63.6% | ||
| Q3 25 | 25.5% | -44.8% | ||
| Q2 25 | 12.1% | -38.3% | ||
| Q1 25 | 1.8% | -67.6% | ||
| Q4 24 | 21.0% | -18.1% | ||
| Q3 24 | 18.1% | -40.0% | ||
| Q2 24 | 3.4% | -26.7% | ||
| Q1 24 | 8.6% | -23.5% |
资本支出强度AOSRKLB
| Q4 25 | 1.9% | 27.6% | ||
| Q3 25 | 1.6% | 29.6% | ||
| Q2 25 | 1.7% | 22.2% | ||
| Q1 25 | 2.2% | 23.4% | ||
| Q4 24 | 3.4% | 16.3% | ||
| Q3 24 | 3.6% | 10.5% | ||
| Q2 24 | 2.2% | 14.4% | ||
| Q1 24 | 2.2% | 20.7% |
现金转化率AOSRKLB
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.72× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AOS
| North America Segment | $713.7M | 78% |
| Rest Of World | $158.3M | 17% |
| Other | $40.5M | 4% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
